The developer plans to develop a 28-story, 44-residence tower on the site. 

The 43-story development, Ombelle Fort Lauderdale, will offer 775 condominiums priced from $400,000. 

The first phase of the $2 billion development will see the construction of branded residential towers, a St. Regis hotel, private beach club and restaurant and retail establishments. 

The development includes a first-phase offering of 62 luxury condominiums starting at $3 million.